A producer knows that the price elasticity for his product is -0.5.He wants to increase quantity demanded by 30 percent.By what percentage does he need to change the price?
A) 10 percent
B) 6 percent
C) -9.5 percent
D) -60 percent
E) -6 percent

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The Answer of A producer knows that the price elasticity for his product is -0.5.He wants to increase quantity demanded by 30 percent.By what percentage does he need to change the price?
A) 10 percent
B) 6 percent
C) -9.5 percent
D) -60 percent
E) -6 percent

A Producer Knows That the Price Elasticity for His Product